Wirehouse Firms
Learn the ins and outs of the wirehouse channel, including news, analysis and more on Bank of America-Merrill, Morgan Stanley, Wells Fargo and UBS.
UBS Trader Kweku Adoboli Hires Lawyers of Nick Leeson, Rogue ’90s Trader
By Joyce HansonUBS trader Kweku Adoboli was charged Friday with engaging in fraud and false accounting since 2008, and hired the lawyers who represented rogue trader Nick Leeson to defend him.
September 02, 2011
Can Bank of America Survive Another Beating?The once nearly orphaned Merrill Lynch is BofAs most successful business unit and it is its corporate parent that looks to be near the precipice.
September 01, 2011
Raymond James Upbeat on RecruitingRaymond James Financial reported net income of $46.8 million, or $0.37 per share, for the period ended June 30 vs. income of $60.7 million, or $0.48 per…
September 01, 2011
Scramble for AssetsThough industry efforts will likely serve to soften the Dodd-Frank Wall Street Reform & Consumer Protection Act that President Obama signed into law…
September 01, 2011
Q2 ’11 Earnings: Mixed Wirehouse Results as Wealth-Management Units Improve SalesBank of America said it had a net loss of $8.8 billion, or $0.90 per share, for the second quarter, compared with net income of $3.1 billion, or $0.27…
August 31, 2011
BofA Adds 38 Advisors to Merrill EdgeBank of America has hired 38 Merrill Edge advisors serving mass-affluent clients in and around Washington, D.C., Baltimore and Philadelphia. The hiring is part of BofA-Merrills plan to nearly double the number of Financial Solutions Advisors to 1,000-plus by year-end.
August 29, 2011
BofA Sells Half Its Stake in Chinese Bank for $8.3 BillionBank of America said Monday it was selling about 13 billion common shares, or 5%, of China Construction Bank to a group of investors for some $8.3 billion in cash and an after-tax gain of $3.3 billion.
August 26, 2011
Advisors Upbeat, With Wirehouse FAs Likely to Switch Firms: Top RecruiterIn the face of intense market volatility, financial advisors are surprisingly upbeat about the future of their businesses, executive recruiter Mark Elzweig, president Mark Elzweig Co., tells AdvisorOne.